“Republican presidential hopeful Jon Huntsman was a top executive of a large chemical conglomerate that is paying $33 million to settle a lawsuit alleging price-fixing.
Huntsman International LLC recently agreed to pay the money to settle a suit filed by several competitors. The lawsuit accused Huntsman International and other companies of antitrust violations by fixing the price of urethane chemicals, used in various products.
Huntsman was a top executive in the family’s business conglomerate for about five of the six years covered by the lawsuit’s allegations. He confirmed Tuesday that he will run for president.
The younger Huntsman was vice chairman of the board of Huntsman Corp. from 1993 to 2001. He was chairman and chief executive officer of Huntsman Family Holdings Co. in 2003 and 2004.
The lawsuit alleged that Huntsman International and other defendants sought to fix urethane prices from 1999 through 2004.”
Published: Jun 15, 2011